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Per capita income

Average income of an economy / From Wikipedia, the free encyclopedia

Per capita income (PCI) or average income measures the average income earned per person in a given area (city, region, country, etc.) in a specified year.

A choropleth map showing gross median per-capita income at purchasing power parity, based on data from Gallup.
Gross median per-capita income at purchasing power parity, based on 2006–2012 data from Gallup

In many countries, per capita income is determined using regular population surveys, such as the American Community Survey.[1] This allows the calculation of per capita income for both the country as a whole and specific regions or demographic groups. However, comparing per capita income across different countries is often difficult, since methodologies, definitions and data quality can vary greatly.[2][3] Since the 1990s, the OECD has conducted regular surveys among its 38 member countries using a standardized methodology and set of questions.[3]

Per capita income is often used to measure a sector's average income and compare the wealth of different populations. Per capita income is also often used to measure a country's standard of living. When used to compare income levels of different countries, it is usually expressed using a commonly used international currency, such as the euro or United States dollar. It is one of the three components of the Human Development Index of a country.

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